Newmont Lowers 2026 Gold Production Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 20 2026
0mins
Source: stocktwits
- Gold Price Performance: Newmont reported an average realized gold price of $4,216 in Q4, and although attributable production fell nearly 24% to 1.45 million ounces, the high gold prices provide support, reflecting strong market demand for gold.
- Production Outlook Adjustment: The company expects total attributable gold production of 5.3 million ounces in 2026, down from 5.89 million ounces in 2025, primarily due to planned mine sequencing at Ahafo South, Peñasquito, and Cadia, indicating short-term production challenges.
- Investment Plans: Newmont plans to invest approximately $1.4 billion in 2026, focusing on advancing several major projects, including feasibility studies at Red Chris and mine life extensions at Lihir and Cerro Negro, with 55% of total spending expected in the second half of the year to support future production growth.
- Market Sentiment Shift: Despite the company's weak outlook, retail investor sentiment on Newmont shifted from bearish to bullish, with message volumes on Stocktwits surging by 950%, indicating optimism about tight gold supply and potential price support.
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Analyst Views on NEM
Wall Street analysts forecast NEM stock price to rise
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 100.230
Low
89.00
Averages
110.85
High
125.00
Current: 100.230
Low
89.00
Averages
110.85
High
125.00
About NEM
Newmont Corporation is a gold company and a producer of copper, zinc, lead, and silver with operations and/or assets in the Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea regions. The Company's operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM. The Brucejack operation includes four mining leases and six core mineral claims which cover 8,169 acres (3,306 hectares) and 337 mineral claims covering 298,795 acres (120,918 hectares). The Red Chris operation includes five mining leases which cover 12,703 acres and 199 mineral claims, encompassing an area of 164,903 acres (66,734 hectares). Penasquito includes 20 mining concessions for operations comprising 113,231 acres (45,823 hectares) and 60 mining concessions for exploration of 107,456 acres (43,486 hectares). The Merian operation includes one right of exploitation encompassing an area of 41,687 acres (16,870 hectares).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Financial Leadership Change: Tabolt, who previously served as Chief Accounting Officer and Group Head of Finance, succeeds Peter Wexler, the interim CFO since Karyn Ovelmen's departure, indicating stability and continuity in financial management.
- Operational Management Enhancement: Rodgers will oversee Newmont's 12 operating sites in Africa and Asia Pacific along with health, safety, and environmental functions, leveraging over 30 years of resources industry experience to enhance operational efficiency and safety standards.
- Project Development Strategy: David Fry has been promoted to Executive Vice President for Project Development, responsible for strategic implementation of global projects, reflecting the company's emphasis on project management and development to drive future growth and innovation.
See More
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- Medium-Term Price Outlook: The bank anticipates a rebound in gold prices as a potential peace deal between Washington and Tehran approaches, with persistent inflation and policy uncertainty expected to drive prices higher, estimating a 5% increase in gold for every 1% rise in US CPI.
- Mining Sector Impact: The decline in gold prices has adversely affected mining companies' revenues, while rising energy costs due to supply shocks have further strained their profitability, making these stocks highly volatile in the current market environment.
- Selective Investment Approach: Barclays remains selective in the mining sector, favoring Endeavour Mining and Hochschild for their lower valuations compared to Fresnillo, which is viewed as overvalued, while maintaining overweight positions in Newmont Mining and Agnico Eagle Mines despite short-term headwinds for gold prices.
See More
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- Crude Oil Price Plunge: WTI crude oil prices fell over 4% to a three-month low due to the US-Iran peace agreement and the reopening of the Strait of Hormuz, easing inflation expectations and boosting risk appetite in the equity markets.
- Weak Economic Data: The US June Empire Manufacturing Survey index dropped to 5.7, below the expected 13.7, indicating weakness in manufacturing that could pressure stocks, yet simultaneously supported gains in Treasury bonds.
- Tech Stocks Lead Gains: Chipmakers and AI infrastructure stocks performed strongly, with the iShares Semiconductor ETF rising over 5% and Western Digital up more than 15%, demonstrating strong market confidence in the technology sector.
See More
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- Background of Appointment: Tabolt joined Newmont in 2021 and previously served as chief accounting officer and group head of finance, bringing extensive financial management experience that will aid the company in improving capital discipline and performance.
- Leadership Restructuring: This appointment comes alongside other senior leadership changes, including Mark Rodgers as COO and David Thornton as CTO, reflecting the company's commitment to strategic execution.
- Strategic Objectives: As the world's largest gold mining company, Newmont is focused on strengthening capital management and operational performance to address market challenges and achieve sustainable growth.
See More
Newmont Appoints New Executive Team
- Financial Leadership Change: Newmont has appointed Brian Tabolt as CFO, who brings over 20 years of finance experience and has served as the chief accounting officer since 2021, which is expected to enhance the company's financial management capabilities through his extensive background.
- Operational Management Appointment: Mark Rodgers has been named COO, bringing over 30 years of mining experience and currently serving as managing director for Africa and Asia Pacific, which is anticipated to optimize the company's operational efficiency leveraging his industry expertise.
- Technical Leadership Update: David Thornton has been appointed CTO, with over 25 years of mining experience and currently serving as managing director for the Americas, expected to drive technological innovation and project execution through his technical expertise.
- Positive Stock Reaction: Newmont's shares rose by 5.56% following the announcement of the new executive team, reflecting market confidence in the leadership changes and potentially enhancing investor optimism regarding the company's future growth.
See More
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- Strong Market Performance: The S&P 500 rose by 1.67% and the Nasdaq 100 by 2.79%, with the Dow Jones Industrial Average hitting a new record high, reflecting optimistic market sentiment driven primarily by gains in technology stocks.
- Crude Oil Price Plunge: WTI crude oil prices fell over 5% to a three-month low due to the US-Iran peace agreement and the reopening of the Strait of Hormuz, easing inflation expectations and providing support for equity markets.
- Weak Economic Data: The US June Empire Manufacturing Index dropped to 5.7, below the expected 13.7, while May manufacturing production remained unchanged, and the June NAHB housing market index unexpectedly fell to 35, indicating fragility in the economic recovery that could impact future market confidence.
- Tech Stocks Lead Gains: Chipmakers and AI infrastructure stocks surged, with the iShares Semiconductor ETF up over 4% and Western Digital soaring more than 14%, demonstrating strong market confidence in the tech sector, particularly amid rising risk appetite.
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